Connect with us

Hi, what are you looking for?

Foreign Policy

UK sanctions five Russian banks and three oligarchs

LONDON — The U.K. has sanctioned five Russian banks and three wealthy individuals linked to Moscow in its first tranche of punitive measures against the Kremlin over its invasion of Ukraine.

The sanctions will hit Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank, British Prime Minister Boris Johnson announced in an address to the House of Commons Tuesday.

Boris Rotenberg, Igor Rotenberg and Gennady Timchenko will see their assets in the U.K. frozen, will be banned from entering the country and will not be allowed to do any business with British individuals and entities, Johnson said, adding all three are “very close” to the Kremlin.

Boris Rotenberg is a Russian businessman and co-owner of the SGM group, the largest construction firm for gas pipelines in Russia. His nephew Igor Rotenberg is the majority shareholder in Gazprom Drilling. Timchenko is the founder of the private investment group Volga Group, which focuses on energy, transport and infrastructure assets.

The U.K. government will keep tougher measures for later, in case Russia steps up its aggression against Ukraine, Johnson said, accusing Russian President Vladimir Putin of plotting the “destruction of a peaceful neighbor.”

Johnson described Putin’s speech Monday as “inflammatory” and full of “false accusations” against Ukraine. His deployment of troops into two breakaway areas in Eastern Ukraine “amount a renewed invasion,” he added.

“We should now brace ourselves for the worst possible stages of Putin’s plan,” Johnson warned. “We will continue to seek a diplomatic solution until the last possible moment. But we have to face the possibility that none of our messages has been heeded and that Putin is implacably determined to go further in subjugating and tormenting Ukraine.”

CORRECTION: This article has been updated to correct one of the targets for sanctions.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like


Belgium has become the first country to introduce a compulsory 21-day quarantine for monkeypox patients after reporting four cases of the disease in the...


Poland’s president told Ukrainian lawmakers that “only Ukraine has the right to decide about its future,” in a speech that was the first in-person...


EU member countries should rein in public spending despite the decision to loosen the bloc’s debt and deficit rules during the COVID-19 crisis, German...


Having settled in Brussels after three decades reporting about the broader Middle East, Hugh Pope is preparing for publication “The Keys to Democracy,” a...


Canada has targeted media tycoon Alexander Lebedev as part of a wave of fresh sanctions against Russian oligarchs, in a move that places greater...


Australian Labor Party leader Anthony Albanese will be the country’s new prime minister, following incumbent Scott Morrison’s failure to win enough seats for the...


Moldova’s defenses should be bolstered to help guard against Russian President Vladimir Putin’s vision for an expanded Russia in Eastern Europe, U.K. Foreign Secretary...


The G7 member countries agreed Friday to ramp up their capabilities to fight future pandemics. “This pandemic will not be the last. We have...